Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 21 May 2025.

Revamped Board of Trade meet for the first time off the back of trio of trade agreements with India, US and EU.

• New Board of Trade to meet for the first time to boost exports and grow the economy
• Comes hot off the heels of three trade agreements in three weeks with US, India and the EU all aimed at supercharging UK exporters
• Delivering on Plan for Change to fire up small business exporters and grow the economy

As part of the Government’s plan to boost small business exporters, the newly revamped Board of Trade will meet for the first time today, just weeks after the UK signed two landmark deals with India and the US and a new EU agreement which will boost exports of food and drinks.

Led by Business and Trade Secretary Jonathan Reynolds, the Board is poised to become a cornerstone of the Government’s Growth Mission, Plan for Change and the wider modern Industrial Strategy to support British businesses to thrive and grow.

The Board meet fresh off the back of the third major trade agreement in as many weeks, ensuring the UK is facing out into the world again to boost business, support workers and grow the economy.

This week’s deal with the EU means a new SPS agreement will make it easier for food and drink to exported by reducing the red tape that placed burdens on businesses and led to lengthy lorry queues at the border.

The new deal with India is expected to be a shot in the arm to the UK’s exports of whiskies and gin, cosmetics, medical devices, advanced machinery and lamb and is expected to increase bilateral trade by £25.5 billion.

Trading with India will be quicker, cheaper, and easier thanks to improved customs processes and by promoting digital systems, which will be particularly important for SMEs who may have otherwise been unable to break into the Indian market.

Meanwhile the groundbreaking US deal is expected to help grow on the existing £196 billion in annual exports from the UK, with tariffs slashed on the likes of cars and steel.

Bringing together a powerhouse of business expertise to drive economic growth – the Board are tasked with supercharging UK exports, delivering targeted support for small businesses across the nation and helping firms utilise the exporting opportunities from the UK’s FTAs.

The high-profile advisory body includes business leaders like Apprentice star Mike Soutar, BT Group Chief Executive Allison Kirkby, and Small Business Britain founder Michelle Ovens CBE, who will serve as ambassadors and advocates for British businesses.

The meeting comes on the heels of historic trade breakthroughs with both India and the United States, which are set to deliver billions in economic benefits for British businesses and workers.

Business and Trade Secretary Jonathan Reynolds said:

“Today marks the beginning of a new chapter for British trade. This Board isn’t just a talking shop – it’s a hands-on, dynamic force that will help businesses of every size access global markets and seize the opportunities created by our landmark trade deals.

“We’ve already secured the best deal India has ever agreed to, and our US agreement has slashed tariffs for our steel and automotive sectors, protecting hundreds of thousands of British jobs.

“As part of our Plan for Change, we’re focusing that same determination on helping our small businesses – the beating heart of our economy – to trade more and grow more, supporting good jobs and higher wages across all parts of the UK.”

The Board will advise on the delivery of the forthcoming Trade Strategy and Small Business Strategy, ensuring both align with the Government’s commitment to nationwide economic growth that raises living standards in every region and nation.

It comes after the UK and India agreed a landmark trade deal worth £4.8 billion to the UK economy and £2.2 billion to wages every year and slashed tariffs across the board including on whisky, cosmetics, and medical devices.

It comes also hot on the heels of the historic deal signed with the US, protecting jobs in the automotive, steel, aluminium, pharmaceutical and aerospace sectors – sectors that employ over 320,000 people across the UK.

In addition, an estimated 260,000 jobs are supported by the auto industry in the wider economy and British farmers now have a major opportunity to sell their high-quality beef to a market of over 300 million people, helping farmers grow their businesses.

The agreement laid the groundwork for greater trade in the future as we continue talks for a wider deal which will look to increase digital trade, better access for our world-leading services industries and improve supply chains.

The first meeting of the Board comes as part of a wider series of measures to boost the number of high-growth SMEs across the country.

The Government has already announced that it will launch a major consultation to tackle the scourge of late payments, while the Budget protected a million small firms from National Insurance increases, extended business rates relief and announced a new Business Growth Service to make it easier and quicker for SMEs to access and benefit from the right government advice and support for their business.

Board of Trade Advisers

Omar Ali, Board of Trade Adviser and Global Financial Services Leader at EY, said:

“Global trade is fiercely competitive, and UK businesses that sell products and services to the world – especially small, entrepreneurial firms – must be supported as they contribute to the international market. Whether it’s UK financial services firms enabling better access to finance or improving digital infrastructure that protects trade, in today’s challenging economic climate, policies and action that enhance productivity and remove friction for SMEs are essential to boost exports and drive growth.”

Catherine McGuinness CBE, a leading voice for financial and professional business services, said:

“This is an auspicious time to meet, following the India and US trade agreements and the EU reset. I look forward to working with the Secretary of State and my fellow advisers to encourage the government to use trade levers to drive growth and help businesses to prosper across the UK.”

Michelle Ovens CBE, Founder, Small Business Britain, said:

“I am excited to work with the Board of Trade as it accelerates its vital work to boost exports and grow the economy. It is encouraging to see new deals struck in recent weeks and a real boost to energy and ambition. Almost all businesses in the UK are small businesses, and they have a major impact on the economy, employing millions and creating and supporting communities. I am really honoured to contribute to this mission and look forward to working together with all the Board Advisors and entrepreneurs themselves to show the world what the UK’s small business community has to offer.”

Business reaction to the recent trade agreements:

Bill Winters CBE, Group Chief Executive of Standard Chartered and Co-Chair of the UK-India Financial Partnership, said:

“The UK-India Free Trade Agreement is a significant achievement. It will create new opportunities for UK and Indian businesses, enable greater access to one of the world’s largest and most dynamic markets, and drive growth and innovation across the UK-India corridor. We welcome this strong commitment to partnership and prosperity.”

Shevaun Haviland, Director General of the BCC, said:

“The US deal was met with a huge sigh of relief by many British businesses.  The reduction in the 25% tariffs on most of our automotive exports and the removal of levies on steel and aluminium were the biggest wins.

“These sectors had been left reeling as jobs, investment and sales were all cut or put on hold. The framework agreement will give them some much needed certainty. They will be keen to see it quickly enacted so they can swiftly re-establish orders and supply chains.

“With the India trade deal and the UK-EU Summit agreement also being recently agreed, the government should be congratulated on its recent achievements, but our economy still needs more. Global trading conditions remain precarious. Government must continue to pursue a bold trade agenda and help UK companies seize the opportunities in the fast-growing Indo-Pacific region.”

On the UK-India FTA, Karen Betts, Chief Executive, The Food and Drink Federation, said:

“We’re delighted the government has finalised its new Free Trade Agreement with India, which is testament to the hard work of the negotiating team. This is very welcome news for UK food and drink manufacturers, particularly for soft drinks, chocolates, biscuits, crispbreads and crackers, which will now all benefit from tariff-free access to one of the fastest growing markets in the world. The UK exported nearly £300m worth of food and drink to India in 2024, so this FTA represents a significant opportunity for British food and soft drinks.

“The FTA will also provide UK manufacturers with greater access to ingredients produced in India, strengthening the supply chain resilience and competitiveness for our sector. We look forward to working with government to ensure that the full benefits of the agreement are realised across a wide range of UK food and drink manufacturers.”

On the US deal, Karen Betts, Chief Executive, The Food and Drink Federation (FDF), said:

“This is very positive news for the UK economy, and to be welcomed. There is obviously still the question of the 10% tariff that continues to apply to food and drink exports.  We hope that this deal creates the space and momentum for continued discussions about removing those tariffs too.

“The US is UK food and drink’s third biggest export market, with £2.7bn worth of goods exported there in 2024, many of which are produced by small and medium sized businesses. Government can make a real difference here by providing greater practical guidance and support to help more food and drink businesses find new customers abroad.”

The press release issued by the Department for Business and Trade on 19 May 2025.

A major new partnership between the Crown Estate and Lendlease has been agreed which will unlock housing and science innovation hubs across the UK worth £24 billion.

• Joint venture between The Crown Estate and Lendlease will unlock housing and science innovation hubs across the UK worth £24 billion.
• Major investment pipeline includes land portfolio with the potential to build 26,000 new homes, with around one-third allocated to affordable housing – supporting the government’s aim to build 1.5 million new homes by 2029.
• Pipeline also includes plans to build vast new office space and labs, creating 100,000 new jobs across the country, boosting economic growth and delivering on the Plan for Change.

Major new partnership from the Crown Estate and Lendlease with a Gross Development Value (GDV) of £24 billion will develop housing and science and innovation hubs and help create 100,000 new jobs and 26,000 new homes, backing the Government’s Plan for Change.

The joint venture allows The Crown Estate to invest in Lendlease’s undeveloped UK land and land management portfolio, providing support on existing projects, helping to transform the UK’s science, tech and innovation sectors and deliver new housing.

The projects have the potential to deliver around 10 million square feet of workspace and labs, and deliver vital investment in digital and technologies and the life sciences sectors – two of the key growth sectors in the government’s upcoming modern Industrial Strategy.

The pipeline is also hoped to deliver over 26,000 new homes for people across the country – of which a third are expected to be affordable housing – backing this Government’s plans to build 1.5 million new homes and get Britain building again as part of the Plan for Change.

In support of the partnership, the Chancellor and Minister for Investment met with Lendlease’s Group CEO Tony Lombardo and Dan Labbad, CEO of The Crown Estate in Downing Street

Chancellor of the Exchequer Rachel Reeves said:

We are pulling every lever to grow our economy so we can put more money in people’s pockets, boost home ownership and make Britain a global hub for life sciences through our Plan for Change.

This includes creating the right environment for organisations like The Crown Estate and Lendlease to partner, helping us to unlock capital to get Britain building and get Britain growing.

Minister for Investment Baroness Gustafsson CBE said:

This is yet another strong endorsement of the UK’s investment environment and our thriving real estate sector as this government has committed to get Britain building again, a crucial part of delivering our Plan for Change.

This pipeline and the creation of additional research labs across the UK, will be a massive boost for our world-leading science, innovation and technology sectors, all key growth sectors in our upcoming modern Industrial Strategy.”

The government’s upcoming modern Industrial Strategy will make doing business quicker, easier and more profitable than ever before. Its 10-year plan will provide business with the certainty they need to invest and innovate in the growth-driving sectors that will shape the UK’s economy, drive regional development, enhance living standards and create high quality jobs.

Businesses have identified that inadequate infrastructure has impacted the growth of UK firms, with the UK suffering from a chronic lack of lab space compared to other leading global hubs, but this pipeline will ensure high-growth sectors have the lab space, transport and housing they need.

If the life sciences real estate markets of Cambridge, Oxford and London were to match their US counterparts by 2035, it could mean 67,000 more high-skilled, high-wage jobs and £4bn a year in additional GVA.

Areas poised for office and housing development include around Euston Station, Silvertown and Thamesmead Waterfront in London, as well as Smithfield in Birmingham.

The joint venture will provide a substantial boost to the UK’s thriving tech ecosystem, which is the third biggest in the world and worth more than £1 trillion.

Group CEO of Lendlease Tony Lombardo said:

This landmark partnership between our two organisations will combine our shared expertise in delivering city shaping precincts and creating long-term benefits for communities.

As master developer, we look forward to working with The Crown Estate to unlock value within our UK development portfolio, for partners, government clients and our securityholders.

Dan Labbad, Chief Executive of The Crown Estate, said:

With strong support from local and national government, we look forward to working with Lendlease and others to realise the potential of these projects to create jobs, stimulate growth and positively impact lives, while also generating income for the UK.

As a country, we face challenges to unlocking growth. To support this, we need to spark investment in sectors like science, technology, and housing, alongside deep collaboration across communities, government, and the private sector. This joint venture is an example of how The Crown Estate is harnessing its mandate to act in the UK’s long-term national interest, supported by new investment powers, and stepping up its ambition to support inclusive growth for the nation.”

Since entering office, the government has been focused on restoring economic stability – the foundation of growth – to give businesses the confidence to invest and expand in the UK. Today’s announcement demonstrates how confidence in the UK’s investment environment translates to real jobs and growth for local communities.

This major announcement comes due to the Crown Estate Act 2025 which increased The Crown Estate’s powers to unlock further investment, kickstarting growth and generating greater returns for the public purse whilst benefitting public services across the UK.

Notes to editors:

• The Crown Estate has a diverse £16 billion portfolio that includes urban centres and development opportunities; one of the largest rural holdings in the country; Regent Street and St James’s in London’s West End; and Windsor Great Park. They also manage the seabed and much of the coastline around England, Wales and Northern Ireland, playing a major role in the UK’s world leading offshore wind sector.
• Lendlease is an integrated real estate group. Headquartered in Sydney, Australia, it is listed on the Australian Securities Exchange. Its core capabilities are reflected in the operating segments of investments, development and construction, and providing a sustainable competitive advantage in delivering innovative integrated solutions for its customers.

The press release issued by the Department for Business and Trade on 19 May 2025.

Around 140 jobs will be created in North Wales after Knauf Insulation unveiled plans to invest £170 million in a state-of-the-art manufacturing facility.

• International manufacturer Knauf Insulation to invest £170m in a new facility in Shotton creating 140 new jobs
• UK and Welsh Governments welcome the investment into new manufacturing facility
• Announcement comes as UK and EU hold a summit to discuss future opportunities to boost economic growth

Around 140 jobs will be created in North Wales after Knauf Insulation unveiled plans to invest £170 million in a state-of-the-art manufacturing facility in Shotton.

The landmark development will produce more than 100,000 tonnes of non-combustible rock mineral wool insulation per year and create approximately 140 direct jobs, with more in local supply chains.

The announcement coincides with the UK-EU Summit taking place today (Monday 19 May) underscoring the UK Government’s commitment to fostering economic growth through its Plan for Change and attracting inward investment to strengthen the economy.

Secretary of State for Wales Jo Stevens said:

This £170 million investment by Knauf Insulation is fantastic news for North Wales and our UK Government mission to drive economic growth.

This is a vote of confidence in the Welsh economy and our government’s plan to make Britain the destination of choice for investment in industry.

Cabinet Secretary for Transport and North Wales Ken Skates said:

This is great news for North Wales. The plans will be a major investment in the area and are a testament to the skills and facilities we have here.

This positive announcement is the start of the journey and we will continue to provide support as the work to deliver the project gets underway.

Minister for Investment Baroness Gustafsson CBE said:

The UK is open for business, and this is yet another vote of confidence in North Wales and its thriving advanced manufacturing sector which will boost jobs and prosperity across the region.

Our modern Industrial Strategy, which will prioritise advanced manufacturing as one of eight key UK sectors, will help us go further by attracting even more investment, creating new opportunity across the country and making our Plan for Change a reality.

Neil Hargreaves, Managing Director of Knauf Insulation Northern Europe said:

Knauf Group has a proud history of manufacturing in Wales and this project aligns with the Welsh and UK Government’s commitment to sustainability and the industrial vision for North Wales and Deeside.

Using UK-First Submerged Arc Furnace technology, the new factory will produce non-combustible, low embodied carbon, recyclable rock mineral wool insulation to support the need for safer, more energy efficient and sustainable buildings.

Joint efforts by the UK Government, Welsh Government, and local leadership have paved the way for Knauf Insulation’s confidence in Wales as a destination for transformative projects.

The UK and Welsh Government-backed North Wales Growth Deal and the Flintshire and Wrexham Investment Zone collectively support the decision by Knauf Insulation to locate a second plant in the area.

As leaders in the production of sustainable building materials, Knauf Insulation’s expansion further supports the growing advanced manufacturing cluster in North Wales.

The press release issued by the Department for Business and Trade on 15 May 2025.

Businesses and consumers will benefit from new growth-focused Strategic Steer set for the Competition and Markets Authority (CMA), in the latest step of the government’s agenda to reform regulation to drive growth as part of the plan for change.

• Government delivers new strategic steer to competition watchdog to prioritise growth while ensuring effective competition and consumer protection
• The steer reset CMA’s priorities with aim to create a level-playing field for businesses through more transparent, timely and responsive regulation
• Part of wider push to ensure regulators drive investor confidence and support economic growth across the UK as part of the plan for change

Businesses and consumers will benefit from new growth-focused Strategic Steer set for the Competition and Markets Authority (CMA) today (Thursday 15 May), in the latest step of the government’s agenda to reform regulation to drive growth as part of the plan for change.

The steer resets the competition watchdog’s priorities, with a renewed focus on prioritising growth and investment while ensuring free and fair competition and protecting the rights of consumers.

In addition to this, the steer is focused on minimising uncertainty for businesses by encouraging the CMA to be proactive, transparent, timely, predictable and responsive in its engagement, underpinning the government’s upcoming industrial strategy.

The independent CMA has already set out positive plans to address these issues to deliver meaningful reforms, by announcing their new public commitment to the pace, predictability, proportionality and process of their mergers investigations, digital and consumer work   – giving businesses more clarity and confidence in the CMA’s work. The Government wants to see the same level of ambition from other regulators.

This is just one part of its wider commitment to reforming the regulatory landscape with work underway to improve licensing regulations for businesses, a new regulation innovation office to speed up regulatory decisions and consolidating the Payment Systems Regulator (PSR) into the Financial Conduct Authority (FCA).

This is to ensure delivery not only for businesses but for taxpayers too by driving investment, boosting confidence and setting out the stall for the upcoming industrial strategy that will articulate a new relationship between business and government to boost growth – delivering the plan for change.

Business Secretary Jonathan Reynolds said:

This government believes in promoting and protecting competition – that is fundamental to our growth mission and Britain’s modern Industrial Strategy. Our economic regulators are crucial to creating the conditions for increased growth and investment. This steer sets out the government’s priorities for the CMA.

I am grateful for the positive approach taken by the new Interim Chair and the Chief Executive as they re-focus the work of the CMA, supporting our Plan for Change to drive growth, investment and business confidence while protecting consumers.

Chancellor of the Exchequer, Rachel Reeves, said:

Competitive markets are more important than ever for attracting investment into the UK and driving economic growth, and our new Strategic Steer for the CMA will help us achieve these goals, making Britain the best country to do business.

We fully support the CMA’s independence and welcome the steps it has already taken to act swiftly, predictably, independently, and proportionately to promote competition, protect consumers and strengthen our economy.

Sarah Cardell, Chief Executive of the CMA, said:

The Strategic Steer reinforces the importance of a strong, independent competition and consumer protection regime, whilst situating this squarely in the context of the growth mission.

The steer provides helpful clarity on how the CMA should prioritise and go about our work, promoting competition and protecting consumers with a sharp focus on supporting higher levels of investment and economic growth.

It reinforces the approach we have set out in the CMA’s 2025/26 Annual Plan and in the roll out of our 4Ps approach, focused on driving greater pace, predictability, proportionality and an improved process committed to strong stakeholder engagement.

The government expects the CMA to clearly communicate how it is taking account of the steer and report on how it has applied the steer in practice in its annual report.

The press release issued by the Department for Business and Trade on 15 May 2025.

Summary of a Joint Statement following the meeting of the Minister for Trade and Investment of New Zealand and Secretary of State for Business and Trade.

This Joint Statement follows the meeting of the Minister for Trade and Investment of New Zealand and Secretary of State for Business and Trade of the United Kingdom on 12 May 2025.

At their meeting, the Ministers celebrated the successful trading relationship between the UK and New Zealand, which reached a record £3.7bn or $7.3bn of trade in goods and services in 2024.

At the meeting, the Ministers opened the second Joint Committee of the New Zealand-United Kingdom Free Trade Agreement (FTA).

Significant progress has been made under the FTA, including amongst other things, the commencement of an artists’ resale royalty scheme, the inclusion of further wine making (oenological) practices, the establishment of a legal services regulatory dialogue, the renewal of the engineers’ Admissions Pathways Agreement, a sustainable finance dialogue, a women in STEM event, and a visit to the UK by a delegation of Māori women technology entrepreneurs.

Ministers commended the significant uptake of the agreement.

Since entry into force, £752.3m ($1,588m NZD) of traded goods successfully used preferential tariffs; i.e. around 82.2% of goods traded between the UK and New Zealand made use of preferences where one was available.

The strong uptake of the agreement’s benefits is resulting in real savings with the potential to benefit both businesses and consumers.

Between June 2023 and Dec 2024:

• £164.2m or $344.5m NZD (80.7%) of goods imports into New Zealand from the UK used preferential tariffs. Had these occurred at standard Most Favoured Nation (MFN) tariff rates, they could have encountered an additional £9.3m ($19.5m NZD) in duties.
• £588.1m or $1,243m NZD (82.6%) of goods imports into the UK from New Zealand used preferential tariffs. Had these occurred at standard MFN tariff rates, they could have encountered an additional £67.4m ($141.8m NZD) in duties.

The Ministers noted that free trade is a cornerstone of prosperity in both countries. Recognising that open markets, and reliable legal and regulatory frameworks are essential for trade, the Ministers committed to strengthening the rules-based trading system.

The Ministers agreed to work together to strengthen the role that free trade, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (which the United Kingdom and New Zealand are Parties to), plays in increasing prosperity and reinforcing resilience against economic turbulence.

This includes growing the agreement ambitiously through further accessions, modernising the agreement through the ongoing General Review, and working with partners to defend the rules-based trading system upon which we rely.

The press release issued by the Department for Business and Trade on 7 May 2025.

UK and Turkey agree on date to relaunch talks for an upgraded free trade agreement.

Secretary of State for Business and Trade Jonathan Reynolds and Minister of State for Trade Policy and Economic Security Douglas Alexander met today in London [Wednesday 7 May] with their Turkish counterparts, Minister of Trade Ömer Bolat and Deputy Minister of Trade, Mustafa Tuzcu, to discuss how to grow the UK economy by boosting trade.

The UK and Turkey have a strong economic relationship, with trade between the two totalling around £28 billion in 2024, making Turkey the UK’s 16th largest trading partner, with UK companies already exporting £9.3 billion of goods and services to its growing market of 86 million people.

Ministers affirmed the importance and strength of the UK-Turkey trading bilateral relationship, committed to continue to pursue closer cooperation and increased trade and investment, and underlined the importance of defending free trade.

They also confirmed their intention for the first round of Free Trade Agreement negotiations to take place by the end of July.

Ministers concluded the meeting by signing an upgraded Technical Barriers to Trade (TBT) chapter, in the form of an amendment to the 2020 UK-Turkey Free Trade Agreement (FTA). This chapter closely aligns UK-Turkey TBT provisions with those found in the UK-EU Trade and Cooperation Agreement (TCA), reducing costs and making it easier for businesses to trade.

Background

• The UK is the second largest services exporter in the world, but in 2024 only 34% of our exports to Turkey were services.
• UK exports to Turkey directly supported around 57,100 jobs across the UK in 2020, more than 68% of which were in services.
• More than 7,800 UK companies currently export goods to Turkey (2024).
• Turkey’s economy is currently the 17th largest in the world. By 2050 is expected to be the 12th-largest in the world and the fourth largest in Europe.
• The Turkish company, Eren Holding Group, recently invested £1 billion in the redevelopment of Shotton Mill in Deeside, North Wales. This investment is set to safeguard 147 jobs and create a further 220. The project is supported by nearly £13 million from the Welsh Government and £136 million from UK Export Finance.

The press release issued by the Department for Business and Trade on 6 May 2025.

Welsh recipients announced in third year of The King’s Awards for Enterprise – the UK’s most prestigious business awards.

The recipients of The King’s Awards for Enterprise have been announced today [6 May], celebrating the achievements of leading businesses from across the UK and Channel Islands.

Eight Welsh businesses across a range of different sectors have been recognised by His Majesty The King as among the best in the country, highlighting the ambition, ingenuity, and success of our diverse business community.

The businesses awarded cover a variety of sectors including industrial lasers, medical equipment, and baking, and are based around the country, from Wrexham to Bridgend and Welshpool.

One Welsh company was awarded for their innovative practices, five for their achievements in international trade and one for their sustainable development.

By supporting more people into work, developing new innovations and exporting the best Britain has to offer around the world, businesses like these play a key role in the UK Government’s mission to go further and faster for economic growth, and put more money in more working people’s pockets as part of the Plan for Change.

Gareth Thomas, Minister for Services, Small Businesses and Exports said:

There are some excellent Welsh businesses recognised in this year’s King’s Awards for Enterprise: from Spectrum Technologies’ pioneering laser equipment to Bluestone Resort’s commitment to environmental responsibility.

I wish the winners every success as they continue to grow, innovate and prosper, and commend the invaluable contributions they have already made to communities at home in Wales and abroad, helping to boost the UK economy.

Secretary of State for Wales Jo Stevens said:

I congratulate all eight Welsh businesses who have won awards. From baking to medical devices to sustainable holidays, their work shows the best of business right across Wales, producing and exporting high quality products and services.

By working with talented Welsh enterprises to create well-paid local jobs and economic growth, the UK Government is delivering on its Plan for Change.

This year’s recipients include Spectrum Technologies, a global leader in the supply of industrial laser wire-processing equipment for the aerospace industry. Based in Bridgend, they have been recognised in the International Trade category.

Dr Peter Dickinson, Chairman and Chief Technology Officer at Spectrum Technologies, said:

Spectrum is very excited and proud to be a winner of the King’s Award for Enterprise. The Company faced huge challenges with Covid but our team of employees have really pulled together and helped turn a difficult situation around, more than doubling sales over the last few years.

The King’s Award is a tribute to their combined efforts, as well as a reflection on the company’s global market-leading position supplying specialised laser wire processing equipment to the aerospace industry.”

Bluestone Resort is situated in the heart of the Pembrokeshire countryside. The park has been designed to reconnect families with nature in a responsible fashion, and as such they have received an award in the Sustainable Development category.

William McNamara OBE, CEO and Founder of Bluestone, said:

Receiving the King’s Award for Enterprise in Sustainable Development is a hugely exciting and rewarding milestone for everyone at Bluestone National Park Resort in Pembrokeshire.

Our ethos is centered on the three pillars of sustainable development: actively protecting natural ecosystems, growing the local economy and supporting local communities. This has become our operational blueprint. The King’s Award for Enterprise in Sustainable Development gives us many reasons to celebrate, recognising the importance of our work as we continue to protect our planet for future generations.”

The King’s Awards for Enterprise were previously known as The Queen’s Awards for Enterprise and were renamed two years ago to reflect His Majesty The King’s desire to continue the legacy of HM Queen Elizabeth II by recognising outstanding UK businesses. The Award programme, now in its 59th year, has awarded over 8,000 companies since its inception in 1965.

His Majesty’s Lord Lieutenants – the King’s representatives in each county – will be presenting the Awards to businesses locally throughout the year. One representative from each winning business will also be invited to a special royal reception event.

Eligible businesses are free to apply for one or more categories. The recipients pass a robust assessment process, judged by experts from industry, academia, the voluntary sector, a representative from the Welsh Government and senior officials in Whitehall. On that basis, each year, The King’s Awards for Enterprise recipients are recommended by the Prime Minister.

Richard Harris, Head of Trade at the Welsh Government and a judge on this year’s panel commented:

It’s an absolute privilege to represent Wales as a judge on the Kings Awards and reviewing and appraising the applications which seem to grow in quality year on year never fails to impress.

The Kings Award is the gold standard, it means something, for me it’s the benchmark award for quality that can literally open doors and start conversations across the world, enabling companies to access opportunities that ordinarily might not be available and win business.

The press release issued by the Department for Business and Trade on 6 May 2025.

The recipients of The King’s Awards for Enterprise have been announced today, celebrating the achievements of leading businesses from across the UK and Channel Islands.

• 197 recipients announced in The King’s Awards for Enterprise – the UK’s most prestigious business awards
• Firms from Stirling to Somerset have their excellence recognised with two businesses receiving awards in two categories
• These successful businesses are playing a key role in the Government’s mission to go further and faster for economic growth as part of our Plan for Change

The recipients of The King’s Awards for Enterprise have been announced today [6 May], celebrating the achievements of leading businesses from across the UK and Channel Islands and recognising their vital role in growing our economy to improve lives.

This year, 197 businesses representing a diverse range of sectors, have been recognised by His Majesty The King as among the best in the country, highlighting the ambition, ingenuity, and success of our diverse business community.

A total of 199 awards have been issued with two companies, Hampshire-based Sonardyne International and Norfolk-based Delta Fire, being recognised for two Awards each.

Overall, 116 businesses have been recognised for International Trade, 46 for Innovation, 27 for Sustainable Development and 10 for Promoting Opportunity Through Social Mobility.

By supporting more people into work, developing new innovations and exporting the best Britain has to offer around the world, businesses like these are playing a key role in the Government’s mission to go further and faster for economic growth, to put more money in more working people’s pockets as part of our Plan for Change.

Gareth Thomas, Minister for Services, Small Businesses and Exports said:

Congratulations to the recipients of this year’s King’s Awards for Enterprise, who all demonstrate the very best of British business talent.

I wish them every success as they continue to grow, innovate and prosper, and commend the invaluable contributions they have already made to communities at home and abroad, helping to boost the UK economy.

Out of the 197 winning businesses 176 (88%) are SMEs, and of those, 27 (14%) are micro-businesses, with 10 employees or less.

Smaller businesses are the beating heart of this government’s growth mission and providing them with the right support to overcome barriers and reach their full potential is an absolute priority. That is why this Government protected a million small firms from National Insurance increases and extended business rates relief in the Budget.

Since then, we have also launched the new Board of Trade to boost small businesses exports and announced over 200 new Banking Hub locations on top of the existing 100 already open. We have also taken action to tackle the scourge of late payments, and most recently, provided a multi-billion-pound increase in government backed financing to help organisations like the British Business Bank provide vital finance for smaller businesses.

We know that it will only take a 1% increase in SME productivity per year, over the next 5 years, to grow the UK economy by a whopping £94 billion.

Graham Brown, Managing Director of Sonardyne, said:

We’re absolutely delighted to have received this recognition. Receiving two King’s Awards in 2025 really celebrates Sonardyne’s ongoing performance in International Trade delivered by working sustainably.

It’s a testament to the hard work of everyone at Sonardyne in making, selling, and supporting great products operating across our blue planet, whilst all the time caring deeply about how we do business to protect it. I hope we can inspire and help other UK businesses to do the same.

Ian Gardner, Managing Director and Founder of Delta Fire, said:

We are absolutely thrilled to receive two King’s Awards for Enterprise for both Innovation and Sustainable Development. These two highly prestigious awards are a fantastic recognition of the great team work in Delta Fire over the last 35 years from a small workshop unit to a state-of-the-art manufacturing facility using net zero energy.

Innovation and Sustainability has led Delta Fire to exporting fire nozzles all around the world and being used to successfully extinguish the majority of fires in the UK every day.

The King’s Awards for Enterprise were previously known as The Queen’s Awards for Enterprise and were renamed two years ago to reflect His Majesty The King’s desire to continue the legacy of HM Queen Elizabeth II by recognising outstanding UK businesses. The Award programme, now in its 59th year, has awarded over 8,000 companies since its inception in 1965.

His Majesty’s Lord Lieutenants – The King’s representatives in each county – will be presenting the Awards to businesses locally throughout the year. One representative from each winning business will also be invited to a special Royal reception event.

Case-studies

• Sonardyne Energy, a Hampshire based firm, transforming what’s possible in offshore energy, maritime defence and ocean science markets through the engineering and manufacturing of their world-leading underwater equipment. They receive the award for International Trade and Sustainable Development.
• Delta Fire, a globally recognised designer, manufacturer, and supplier of specialist front-line firefighting products, committed to sustainability and carbon neutrality by 2030. Based in Norfolk, Delta Fire have been recognised in the Innovation and Sustainable Development categories.

Other recipients also include:

• Level Peaks, a business based in Hereford, and managed by ex-British Military Special Forces Veterans, which supplies innovative defence and security equipment to the UK Government and governments abroad. The company receives The King’s Award for International Trade.
• Mixergy, which has received the Innovation award for their intelligent hot water tank which interacts between homes and the grid to maximise efficiency and reduce energy bills. The business is based in Oxford.

The full list of Awardees across the four categories can be found in the London Gazette.

The press release issued by the Department of Business and Trade on 2 May 2025.

Government statement on conclusion of US tariff review.

The process seeking views from businesses and interested stakeholders to shape any future UK action on tariffs has now concluded.

The four-week Request for Input launched on Wednesday 3 April in response to the US imposing tariffs on a range of products and has received over 200 responses. Work to analyse those responses begins while keeping all options on the table.

The Government will now rapidly analyse the comments and data which scope out the impacts of possible UK tariffs, as well as views on a range of products that could be included in any UK’s response.

Negotiations on an economic prosperity deal with the US to remove existing and future tariffs continue at pace and remain our focus.

Business and Trade Secretary Jonathan Reynolds said:

We are now in a new era for trade and the economy, and that means going further and faster to strengthen the UK’s economy.

All options remain on the table and any future UK action will be made in the national interest – and that is exactly why this engagement was so important.

Our approach so far has been guided by the interests of British business and their voice will continue to be at the heart of our decisions.

While we analyse responses, this Government’s priority will be to build on the strength of our relationship with the US and continue talks to find a resolution for UK businesses.

The press release issued by the Department for Business and Trade on 27 April 2025.

The Government has confirmed the arrival of a new raw materials shipment for use in British Steel’s Scunthorpe blast furnaces.

Steelmaking in Scunthorpe will continue as the Government confirmed the arrival of a new shipment of raw materials today this weekend – bolstering the UK’s national security by protecting the vital capability of domestic steel production.

A shipment of over 55,000 tonnes of blast furnace coke – more than four times the weight of the Shard – from Bluescope Steel’s plant in Australia arrived at Immingham Bulk Terminal today on the MV (merchant vessel) Navios Alegria. It will now be transferred by rail to Scunthorpe.

The coke is crucial to helping ensure both blast furnaces at British Steel can keep running for the coming months and a vital part of efforts to provide a steady pipeline of materials for continued steelmaking.

Another shipment of more than 66,000 tonnes of iron ore pellets and 27,000 tonnes of iron ore fines is due to arrive from Sweden next week, and has been paid for directly by government using existing DBT budgets – as part of this government’s commitment to backing UK industry to succeed.

In further efforts to shore up the company, British Steel has confirmed two more crucial appointments to its leadership team with a new interim Chief Operating Officer and HR Director, both of whom have more than 30 years’ experience in the steel industry.

Business Secretary Jonathan Reynolds said:

This government is on the side of British workers and British industry. The action we’ve taken to secure primary steelmaking at Scunthorpe will not only support our national security but help our steel sector supply the construction of the homes and infrastructure of the future, as part of our Plan for Change.

By securing the raw materials we need to keep Scunthorpe going for the foreseeable future we’ve helped protect thousands of crucial steel jobs. Now, British Steel workers and their families can breathe a sigh of relief and know that we are on their side.

Allan Bell, Interim CEO of British Steel said:

We’ve successfully secured the raw materials we need to keep the blast furnaces running, meaning our production of steel can continue. We would not be here today without the hard work and dedication of our specialist procurement, technical and operational teams who have worked tirelessly on short timescales to secure the required raw materials.

Over the coming months our focus will be on stabilising our operations for the long-term, cementing British Steel as one of the world’s leading manufacturers of steel.

Community Assistant General Secretary Alasdair McDiarmid said:

The imminent shipments of coke and other raw materials needed to keep the blast furnaces running over the months ahead provide much-needed assurance for our members on site in Scunthorpe. We are grateful to British Steel and the government for the decisive work they have undertaken to secure a future for the business – we have seen their commitment and dedication first-hand.

After years of neglect, we now have a UK Government which understands the vital strategic importance of steel, and is backing this up with action.

The latest delivery of vital raw materials reinforces the UK’s primary steelmaking capacity by ensuring both blast furnaces at Scunthorpe can remain operational and gives certainty to the workforce of around 3,000 employed at the steelworks.

It also comes after British Steel announced earlier this week that it has ended a consultation on staff redundancies launched in March by its owners Jingye, and confirmed it would keep both blast furnaces running, securing thousands of jobs thanks to the Government’s decisive action to step in and save the company.

Now that the necessary supplies of raw materials for the blast furnaces have been confirmed, the Government is continuing to focus on securing the long-term future of British Steel with private sector investment, working closely with a range of third parties on potential options.